Governments are, and always were, a threat to monetary stability; Hayek's currency competition fails to convince: So is stabile money just an illusion? The independence of central banks and a clear mandate for maintaining price stability are the best options in this on-going battle, finds Otmar Issing.

Governments are, and always were, a threat to monetary stability; Hayek's currency competition fails to convince: So is stabile money just an illusion? The independence of central banks and a clear mandate for maintaining price stability are the best options in this on-going battle, finds Otmar Issing.

Governments are, and always were, a threat to monetary stability; Hayek's currency competition fails to convince: So is stabile money just an illusion? The independence of central banks and a clear mandate for maintaining price stability are the best options in this on-going battle, finds Otmar Issing.